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he doesn't care about deficits. he's not going to deal on this. >> you know, a couple of times during the news conference, i was interested in this. president obama said to congress, go ahead, give me the power and i'll issue more debt. that's really what he wants. he wants the power to issue unlimited debt so he can have unlimited spending and eventually he's going to get around to unlimited tax hikes. >> well, to be clear, as you know, when we talk about the debt, the president doesn't get to decide, you know, how much we're spending that's something that rests with congress. but in terms of what kate was saying with respect to, you know, him wanting to not really offer any cuts he's incurred the wrath of his party by offering chain cpi to social security. that's a reindexing of the cost of living index, revising down how much elderly people are getting. and he talk about potential fixes to medicare, potentially raising the age. it is not true that he's not willing to do that. i'll say there are a lot of people on
he doesn't care about deficits. he's not going to deal on this. >> you know, a couple of times during the news conference, i was interested in this. president obama said to congress, go ahead, give me the power and i'll issue more debt. that's really what he wants. he wants the power to issue unlimited debt so he can have unlimited spending and eventually he's going to get around to unlimited tax hikes. >> well, to be clear, as you know, when we talk about the debt, the president...
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melissa: we're adding trillions every year to our deficit. what do you think, stephen, does that get us there? >> 1.2 trillion is this year's deficit. that doesn't solve the long-term problem. the thing we haven't had from this president in my view is serious proposal for structural entitlement reform on the order of something like the ryan budget that republicans offered. took a lot of grief for. something that would change the trajectory of our debt. things we've had from this president wouldn't do that. they might take a chunk here, take a chunk there but they don't change the overall debt picture and certainly don't change the trajectory. melissa: stephen, susan, stick around. we have a lot more on the other side of this break. like ben bernanke saying time to ditch the debt ceiling all together. is it as silly as he says it is? we'll debate that. more "money" ahead what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money
melissa: we're adding trillions every year to our deficit. what do you think, stephen, does that get us there? >> 1.2 trillion is this year's deficit. that doesn't solve the long-term problem. the thing we haven't had from this president in my view is serious proposal for structural entitlement reform on the order of something like the ryan budget that republicans offered. took a lot of grief for. something that would change the trajectory of our debt. things we've had from this president...
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default would increase borrowing costs and therefore add to future budget deficits. this letter from the treasury secretary intended to put more political and public pressure on congress to do something on the debt ceiling. so we're seeing the administration across the board acting in a very conservative way today. >> thank you very much. >>> up next, he spent millions of his own money warning about dangers of socialism. now the next crisis in washington. tom peterffy will join me next. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark
default would increase borrowing costs and therefore add to future budget deficits. this letter from the treasury secretary intended to put more political and public pressure on congress to do something on the debt ceiling. so we're seeing the administration across the board acting in a very conservative way today. >> thank you very much. >>> up next, he spent millions of his own money warning about dangers of socialism. now the next crisis in washington. tom peterffy will join...
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it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> and number of people have expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was when you raised that term initially? >> as i said, the fiscal kloof, if allowed -- the fiscal clef, if allowed to take place, would probably create a recession this year. a good part of that has been addressed. but nevertheless, we have a set of a r
it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its...
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and japan famously has run deficits year after year. and it has a level of debt that is about twice what we've got as a share of gdp. and people have been predicting financial catastrophe for japan year after year for ten years or more. they've had downgrades. their debt was downgraded in 2002 by the major rating agencies. and everybody who believed those warnings and everybody -- has lost a lot of money. so it turns out that if you're an advanced country with its own currency and a reasonably stable government, you have a lot of running room on these things. so am i worried? yeah, i mean, i am worried about the u.s. fiscal situation 20 years from now. we do have a problem of health care costs and so on. but, you know, i'm worried about a lot of other things 20 years as well. i'm not sure that even if you take that long term perspective, that the budget should be at the top of your list of things to be afraid of. i'm a lot more afraid, actually, of the great -- the entire southwest of the united states turning into a dustbowl because of
and japan famously has run deficits year after year. and it has a level of debt that is about twice what we've got as a share of gdp. and people have been predicting financial catastrophe for japan year after year for ten years or more. they've had downgrades. their debt was downgraded in 2002 by the major rating agencies. and everybody who believed those warnings and everybody -- has lost a lot of money. so it turns out that if you're an advanced country with its own currency and a reasonably...
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Jan 17, 2013
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we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a deficit, an important urgent need to address the issue of energy and independence and opportunity that's sitting right in front of us ready to be advanced in the next year or two, but that requires leadership and initiative in washington and immigration reform, again, the subject that was discussed before. one more word, finally, about the process. for this, i go back to an earlier part of my life as a professor of law and one of the subjects i taught every year was negotiation. negotiation of a variety of contacts from international to commercial and transactional to labor management dispu
we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a...
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must tackle its debt and deficit problems. that is why there must be spending decreases, something they say wasn't a part of the deal the president just signed to avert, at least some of the fiscal cliff. tracy: here we go again. if february 15th is the big day, that would mean your poor wife will probably be alone on valentine's day, rich edson. god bless you. >> there are worse things. tracy: buy her a box of chocolate. >>> with earnings season getting in full swing this week our next guest says results could provide a base for the market to move higher especially because expectations are so darn low. joining us, margie battle, wells fargo advantage funds senior portfolio manager. earnings are low but doesn't bode well for what we'll hear out of these companies, does it? >> well i think some companies have done some preannouncements where they're expecting their growth to slow down because we should have some pretty low gdp growth for the next several months because of all the uncertainty. however, most companies have high c
must tackle its debt and deficit problems. that is why there must be spending decreases, something they say wasn't a part of the deal the president just signed to avert, at least some of the fiscal cliff. tracy: here we go again. if february 15th is the big day, that would mean your poor wife will probably be alone on valentine's day, rich edson. god bless you. >> there are worse things. tracy: buy her a box of chocolate. >>> with earnings season getting in full swing this week...
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it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the fist time in the more global renegotiation, what bernanke know and the government is they don't want the economy to be in another recession. probably it's going to be a slow process, but the final aim is there and everybody knows where we need to go. >> all right. let's remind you what's on today's show. we take a look out at the auto show. 5:30 eastern. spain is set to tap the bond market today. it's going to tell 12 and 18-month t bills. analysis is due in about 30 min
it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >>...
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the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest part of the budget and the fastest growing part of the budget. it also, the $1.2 trillion is in the bank because of the discussions we had two years ago. >> you think the democrats would not see that as a credible threat? they would say go ahead, let the sequestration kick in? >> well, i think democrats and republicans alike would like to alter the way the sequestration works. but i hope that nobody's talking about not making good on our commitment to reach the $1.2 trillion. i'm certainly not. and those of us who are concerned on the across-th
the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest...
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would surplus at sometimes but ordinarily deficits were small and manageable. what's different today we're not necessarily talking about funding or not borrowing for disaster, we're borrowing for everything else and that puts us in this new and frankly uncomfortable position. if we had taken care of our underlying financial and fiscal needs and paid for the operation of this government without borrowing huge sums of money we wouldn't have to have this conversation. we've undermined our own ability for our own people. imagine the united states of america being in the circumstance it is today we have to ask other countries to lend us money so we can take care of our own. that's an embarrassment to me. i'm not happy to be in this position. it's not because of what happened in sandy, it's because of what happened before we got to sandy. >> congressman mick mulvaney nice to talk to you. makes an excellent point at the same time. if you are a person affected by sandy many folks in our state of new jersey you hear that, this is closing the barn door after the horse ha
would surplus at sometimes but ordinarily deficits were small and manageable. what's different today we're not necessarily talking about funding or not borrowing for disaster, we're borrowing for everything else and that puts us in this new and frankly uncomfortable position. if we had taken care of our underlying financial and fiscal needs and paid for the operation of this government without borrowing huge sums of money we wouldn't have to have this conversation. we've undermined our own...
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we don't have that kind of capability in the federal government to add the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is? >> guest: technology aspect is manifold. and price performance improves every 18-24 mocks. in the last year we have gotten into the innovation cycle in batteries so by the end of 2020 electric vehicles will actually be price competitive with grass-driven cars. the problem with these things is that we can't wait. we can't wait because of the environmental effects and we can't wait because we need the economy to grow quickly right now. so the book lays out a whole bunch of different ideas for bringing private investment much more quickly into the job of rebuilding the power grid. >> host: on this show, a series on the international power plant, and he doesn't necessarily agree that the internet is completely green or is terribly green. what is your thought? >> guest: he is right about that. people say that data centers in
we don't have that kind of capability in the federal government to add the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is? >> guest: technology aspect is manifold. and price performance improves every 18-24 mocks. in the last year we have gotten into the innovation cycle in batteries so by the end of 2020 electric vehicles will actually be price...
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consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spending in deciding what bills to pay. the treasury is getting money in every single day. tax dollars don't just come in on april 15th. they come in all the time. >> and the president will be forced to do what you and i and every other american have to do and that is prioritize expenses. if we would not default, prioritize that which must be paid first and then make tough choices as to what is necessary and proper for our government to be spending. that is what we should be doing every day and is, quite frankly, why this president has failed to lead because he just does not believe it. he believes there is no end, and at the end of his term will be somebody else's
consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spending in deciding what bills to pay. the treasury is getting money in every single day. tax dollars don't just come...
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the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay our bills. we handle our business. and then we can move on -- because america has a lot to do. we've got to create more jobs. ofve got to boost the wages those who have work. we've got to reach for energy independence. we've got to reform our immigration system. we've got to give our children the best education possible, and we've got to do everything we can to protect them from the horrors of gun violence. and let me say i'm grateful to vice president biden for his work on this issue of gun violence and fo
the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay...
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the same time enact, let's say simpson-bowles ii, something that will take a very big bite out of the deficit over ten years. what's the reason for the stimulus today? to get the economy growing faster. >> would you be one? >> unlike the congress, the fed has done quite a lot and there isn't very much more the fed could do. i would certainly be with chairman bernanke. i was happy when they switched over, which is likely to have a bigger impact on the economy. the other thing i've been urging on the fed but they're not doing it is cut the interest rates by holding idle excess reserves in the hope that some of that will go into the economy. >> we have to leave it there, but thank you very much for your thoughts today. let's bring in don peebles of the peebles corporate. don, great to have you on the set today. >> good to be here. >> how does it play out? >> in the end it's a lot of drama about a profungtsry performance. the government needs to stand behind its credit. that's one of the benefits as a government, we get low rates because our credit is good. it's a shame we're spejd all this time.
the same time enact, let's say simpson-bowles ii, something that will take a very big bite out of the deficit over ten years. what's the reason for the stimulus today? to get the economy growing faster. >> would you be one? >> unlike the congress, the fed has done quite a lot and there isn't very much more the fed could do. i would certainly be with chairman bernanke. i was happy when they switched over, which is likely to have a bigger impact on the economy. the other thing i've...
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that is the deficit. you take the sum total of those annual deficits and enter oast on them and that creates the national debt which right now is about 16.4 and change trillion dollars. now, the u.s. treasury is empowered to borrow money to make up the shortfall between revenue and expenses, the deficit. but only up to a certain limit. that's the debt ceiling. treasury does not make decisions about how the money is spent. they are simply empowered in this case to write the checks to pay the bills that are already incurred by your democratically elected congress. now that we've hit the debt limit, exceeded it a little bit, the treasury has two options. they can fiddle around with $200 billion the way you would if you're a little short on your monthly bills, paying some now, refinancing a little bit. that would get us through mid-february to early march. once that stops working the treasury needs to rely on the cash it has on hand and the revenue that comes in each day from taxes. problem is there isn't alw
that is the deficit. you take the sum total of those annual deficits and enter oast on them and that creates the national debt which right now is about 16.4 and change trillion dollars. now, the u.s. treasury is empowered to borrow money to make up the shortfall between revenue and expenses, the deficit. but only up to a certain limit. that's the debt ceiling. treasury does not make decisions about how the money is spent. they are simply empowered in this case to write the checks to pay the...
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that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this problem after a while. do you think we're headed for a full stalemate? >> it's such a shame. i think david is right because we have low debt service right now. we're paying less interest on our debt than we had in the reagan and bush administrations before because interest rates are so low. >> but they're going to go up one day. >> but not for several years. i'll say it, we should be borrowing more at 30-year, 3% terms, so we can invest in the long-term growth of this economy. this is not the time for further austerity and cuts. if we were even to consider that right now, it would be
that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this...
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gerri: and deficits as far as the eye can see. clearly this is a situation that cannot continue forever. they have said let's take it to the court. what do you make of that strategy? >> is a losing strategy. there is a reason that debt ceiling raised with congress. that is a reason they have to start using the president's language and site we have to have a balanced approach. if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as good a time as any. i don't think they should go all in, draw a line in the sand and shut the government down because the public doesn't know a heck of a lot about this. they could be the recipient of the blame for this. gerri: use a dollar for dollar doesn't work. >> it will not stop the debt from growing as a percent of gdp because the gap is too large. >> i'm not saying it will balance the budget. we have to start the conversation, this is a good place to start making inroads. that is when republicans really have to draw the line in the sand. ger
gerri: and deficits as far as the eye can see. clearly this is a situation that cannot continue forever. they have said let's take it to the court. what do you make of that strategy? >> is a losing strategy. there is a reason that debt ceiling raised with congress. that is a reason they have to start using the president's language and site we have to have a balanced approach. if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as...
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i mean, that's just, you know, in the self-interest of the government of venezuela, if you've got a deficit, you know, stop giving oil away. stop subsidizing sales to people. that would be a lodge cl thing -- logical thing to do. and if you had a government that was not as idealogically motivated as the current government, if you had a chavista government not as idealogically motivated as the current government, that would be a real, logical thing for them to do. >> yeah. thank you for those comments. before i go to chris for the last question this round, i want to mention that after that we'll be going to the audience for some of your questions. we'll have circumstance rating microphones, so you can be thinking about the questions. hopefully, the certification to this point has been sufficiently provocative that you'll have a number of questions, and we can go into the procedure for doing that. but just to give you a heads up that that's coming shortly. chris, back to you for really a continuation of where charles left his comments. but i want to press it just a little bit further. you've
i mean, that's just, you know, in the self-interest of the government of venezuela, if you've got a deficit, you know, stop giving oil away. stop subsidizing sales to people. that would be a lodge cl thing -- logical thing to do. and if you had a government that was not as idealogically motivated as the current government, if you had a chavista government not as idealogically motivated as the current government, that would be a real, logical thing for them to do. >> yeah. thank you for...
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.$8 million deficit this city is running. when they filed for bankruptcy they had wanted to $50,000 in the citibank account. john: the politician said we did not see it coming. they owed 46 millionith panetta thousand of the bank? >> they're required to put 1.8 million dollars per month into koppers. john: they tried to raise money through fees like expensive parking tickets. >> i paid $500. >> but he was going 90 in the school's own. john: with that does not cover the pension obligations. >> not sandy know, vallejo, a compton, a stockton or any of their city. they are failing. john: i hear there is more civil society? volunteers working in the animal shelter, park maintenance, a neighborhood watch is starting to blossom? >> bay plant their city back. they take it themselves. so the private solution is always better. john: that is where you go when the government spends of the many. next we take this problem and see what it does to the whole state. it is not pretty and. john: california is paradise for government workers. her
.$8 million deficit this city is running. when they filed for bankruptcy they had wanted to $50,000 in the citibank account. john: the politician said we did not see it coming. they owed 46 millionith panetta thousand of the bank? >> they're required to put 1.8 million dollars per month into koppers. john: they tried to raise money through fees like expensive parking tickets. >> i paid $500. >> but he was going 90 in the school's own. john: with that does not cover the pension...
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and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. it's absurd. >> the country defaults on its debt, republicans will take the blame for the damage, as president obama pointed out, the country is required by law to pay for what congress spends. >> congress authorizes spending. they order me to spend. they tell me you need to fund our defense department at such and such a level. you need to send out social security checks. you need to make sure that your paying to care for our veterans. they lay all this out for me. and because they have the spending power. and so i am required by law to go ahead and pay these bills. >> many republicans are willing to just let it all burn to the ground. politico reported more and morehouse republicans are planning to damage the economy. gop officials said more than half of their members are prepared to allow default unless president obama agrees to dramatic cuts. he has repeatedly sai
and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. it's absurd. >> the country defaults on its debt, republicans will take the blame for the damage, as president obama pointed out, the country is required by law to pay for what congress spends. >> congress authorizes spending. they order me to spend. they tell me you need to fund our defense department at such...
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he has said, the president remains committed to further reducing the deficit in a balanced way. so that is the response from the white house after the gop at its retreat in virginia came out with the possibility that perhaps we could extend the debt limit for another three months but the senate has to pass a budget, so the republicans which it has not done in four years. so. tracy: no surprise from the white us house. ashley: says no. tracy: okay, then. how about this. hank paulson says he hates the debt limit. you remember the former treasury secretary, the guy who said i need $700 billion right now? no wonder he hates it. ashley: don't we all. tracy: he has given a rare interview. we have details on that next. ashley: first a look at today's winners and losers. the dow just above the water mark. take a look. we'll be right back. ♪ chances are you've become, a better driver over the years. and one company thinks your auto insurance rates should get better too. presenting the aarp auto insurance program from the hartford. i'm a good driver. have been for years. it just makes s
he has said, the president remains committed to further reducing the deficit in a balanced way. so that is the response from the white house after the gop at its retreat in virginia came out with the possibility that perhaps we could extend the debt limit for another three months but the senate has to pass a budget, so the republicans which it has not done in four years. so. tracy: no surprise from the white us house. ashley: says no. tracy: okay, then. how about this. hank paulson says he...
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onto another big one, negotiating with unions has made big headlines in the past year's budget deficit exploding, as you know, but one story in the "wall street jouournal" really caughty attention because the strong-arm tactics being used. just one example, the police union in california began a harassment campaign against the city manager. after he announced the city may have to lay off 16% of the municipal workforce. the union bought the house next door to him to make his life miserable and they invested in billboards welcoming visitors famous as the second most dangerous city in california and it put his phone number at the bottom. keep in mind this is if you ended up going bankrupt because of unsustainable costs. this is all too familiar to the costa mesa mayor who joins me now. they moved in next to the city manager and they unleash a flurry of construction making all kinds of racket and bullying him at home. does this shock you are similar to something you went through as well? >> five years ago it would shock me. what you find out is these unions in a lot of public safety unions
onto another big one, negotiating with unions has made big headlines in the past year's budget deficit exploding, as you know, but one story in the "wall street jouournal" really caughty attention because the strong-arm tactics being used. just one example, the police union in california began a harassment campaign against the city manager. after he announced the city may have to lay off 16% of the municipal workforce. the union bought the house next door to him to make his life...
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Jan 20, 2013
01/13
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WMAR
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right now in front of congress and the country you have the need to reduce the deficit and continue to grow the economy, energy and climate change, immigration. gun safety. things are stacked up. and so i think that that is going to provide the sort of focus and energy you need and i think his intention is to run through the tape all the way through. >> gun safety has jumped to the top of the president's agenda since newtown and this week the president promised that the weight of his office behind these proposals but we're seeing a lot of resistance from democrats and want to show some of the reaction. senator max baucus "before passing new laws we need a thoughtful debate that respects responsible law abiding gun owners in montana instead of one side fits all directives from washington. senator tim johnson, "it makes common sense to not have one size fits all. senator mark begich "i feel like it's going to be hard for they of these pieces of legislation to pass." these are democrats. what is he going to bring to bear on that? >> it is a tough issue. i will say this, these are commonse
right now in front of congress and the country you have the need to reduce the deficit and continue to grow the economy, energy and climate change, immigration. gun safety. things are stacked up. and so i think that that is going to provide the sort of focus and energy you need and i think his intention is to run through the tape all the way through. >> gun safety has jumped to the top of the president's agenda since newtown and this week the president promised that the weight of his...
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Jan 19, 2013
01/13
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MSNBCW
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>> look, at the end of the day, when we deal with the sequester, when we deal with deficit reduction, it has to be in a balance way. we have always said we are willing to support spending cuts. we put our money where our mouth is with the debt ceiling last summer. like i said, before, ed, many of us on the democratic side voted for $1.2 trillion in spending cuts with no revenue, no balance and got a debt ceiling increase. president obama made it very clear we are not negotiating over the debt ceiling again because we have to pay our bills. we have to give certainty to our economy and we have to focus on deficit reduction in a balanced way so we can protect the middle class and working families. >> doesn't this give the progressive movement an opportunity in the next 90 days to really send the message to congress, leave the big three alone? go get your money somewhere else? i mean, it would seem to me that the republicans are going to go that have in the next 90 days, make the case that it's the entitlements that are really the problem in all of this. so this campaign is going to conti
>> look, at the end of the day, when we deal with the sequester, when we deal with deficit reduction, it has to be in a balance way. we have always said we are willing to support spending cuts. we put our money where our mouth is with the debt ceiling last summer. like i said, before, ed, many of us on the democratic side voted for $1.2 trillion in spending cuts with no revenue, no balance and got a debt ceiling increase. president obama made it very clear we are not negotiating over the...
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Jan 14, 2013
01/13
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CNBC
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governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to the federal tax changes rather than the new state tax rates. now it all shows that california is more dependent than ever on the wealthy. the top 1% of earners, remember they pay up to half of the state's total income taxes but revenues from the rich are now harder than ever to predict. back to you guys. >> thank you, robert. let's go to michelle ka brumich >> you will have a lot more cartoons available on the kid section only and also the exclusive video streamers of the new seasons of dallas. as you can see, getting a big texas more with more than 2%. back to you, tyler. >> thank yo
governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to...
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Jan 21, 2013
01/13
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FBC
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pressing problems or americans in this country, you know, chief among them the economy, the budget deficit for crying out loud. a dysfunctional governmement. in have to go to -- 4%. what in the world is going on in that town? >> not the first time there were talking about things that the rest of the country does not care about as much. interesting. this poll comes out with 71 percent of americans believing these new laws are unlikely to actually prevent ture mass shootings, and then there was a washington post-abc poll earlier this week that found 55 percent of americans believe that the most effective way or one of the most effective ways to stop these things is to have armed guards and schools. much more in line with what the nra was proposing. people are skeptical of new laws, and i think they're right to be. if there are going to be new measures undertaken, they want to do things that are not what the white house is proposing right now. lou: there is a dishonesty in this initiative that i find appalling. this president reacted skeptically to the proposal by the nra to put armed guards
pressing problems or americans in this country, you know, chief among them the economy, the budget deficit for crying out loud. a dysfunctional governmement. in have to go to -- 4%. what in the world is going on in that town? >> not the first time there were talking about things that the rest of the country does not care about as much. interesting. this poll comes out with 71 percent of americans believing these new laws are unlikely to actually prevent ture mass shootings, and then there...
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Jan 16, 2013
01/13
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FBC
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the president may not want to cut spending as part of the upcoming debt limit debate but it shows deficit reduction measures have increased and are about as standard in washington as a cherry blossom festival. i'm sure that you agree that? >> absolutely. i agree wholeheartedly with that assessment. that is why we need to have this discussion now. it is all the more appropriate for the president to be telling us we can't make any demands accompanying his request for yet another debt ceiling height. gerri: how did you react to the presence tone in that last press conference when he talked about his upcoming debt ceiling despite? he seemed a little angrier you guys. >> yes, he did. he seemed annoyed at the fact that he had to deal with a coequal branch of government. a group of pesky individuals elected by the people. >> yes, that's right. we have the audacity to insist that we follow the law and that we continue to make the law and yes, we have our work cut out for us. >> i was noticing that since 1990, we have raised the debt ceiling 18 times. back in 1990 come the first time we raised it,
the president may not want to cut spending as part of the upcoming debt limit debate but it shows deficit reduction measures have increased and are about as standard in washington as a cherry blossom festival. i'm sure that you agree that? >> absolutely. i agree wholeheartedly with that assessment. that is why we need to have this discussion now. it is all the more appropriate for the president to be telling us we can't make any demands accompanying his request for yet another debt...
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Jan 18, 2013
01/13
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FBC
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for the rest of the week, the question is the deficit talks. are they going to lead to something? will they accept a temporary deal or not? will the market have this pullback that everybody, this hour has been talking about. people are waiting for it. a lot of people have cash. they have been keeping the powder dry, waiting for a pullback to go into the market. we may get clues whether that will happen coming up next week. liz: the team will be here for you on fox business, watching. remember what we've seen. five-year highs. watch out for ample next week and so much more. david: you know who is now? liz: "money" with melissa francis. david: we'll watch, melissa. liz: i'm hopping a plane. see you in davos. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider i
for the rest of the week, the question is the deficit talks. are they going to lead to something? will they accept a temporary deal or not? will the market have this pullback that everybody, this hour has been talking about. people are waiting for it. a lot of people have cash. they have been keeping the powder dry, waiting for a pullback to go into the market. we may get clues whether that will happen coming up next week. liz: the team will be here for you on fox business, watching. remember...
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Jan 15, 2013
01/13
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CNBC
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he's the cow author of controversial simpson/bowles deficit reduction plan. find out what he has to say now as we're edging closer and closer to that debt ceiling. >>> later, no way to get to work equals no job. a new study shows 3.5 million jobs will be lost if we don't start rebuilding america's infrastructure, today. we'll debate the high-stakes issue affecting all of us in the back half of the program. don't miss it. back in a moment. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announ
he's the cow author of controversial simpson/bowles deficit reduction plan. find out what he has to say now as we're edging closer and closer to that debt ceiling. >>> later, no way to get to work equals no job. a new study shows 3.5 million jobs will be lost if we don't start rebuilding america's infrastructure, today. we'll debate the high-stakes issue affecting all of us in the back half of the program. don't miss it. back in a moment. what are you doing? nothing. are you stealing...
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Jan 16, 2013
01/13
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CNBC
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you can't solve the deficit problem and our debt ongoing unless we in fact reduce our spending. the math doesn't work. >> let me ask you this. if you get spending cut ideas, are you going to agree to more tax increases? >> i think that's the negotiation that needs to happen. >> you want to go for more tax increases after the tax increases that went through on the fiscal cliff? >> i think closing loopholes, i think there has to be revenue enhancement and closing loopholes, already raised the tax rates, but there's got to be some spending cuts to go along with it. i'm not going to give away the store unless we get something in return. >> you did that already. did you that already at the end of the year? >> i'm not in congress thankfully. i'm running a very fiscally prudent state that's well managed and lives within its means and saves money for a rainy day and is growing the economy to produce more growth money by expanding a healthy economy. washington would do a lot to listen and watch what we're doing in utah because we're doing it right. >> you sure r.governor, thanks very muc
you can't solve the deficit problem and our debt ongoing unless we in fact reduce our spending. the math doesn't work. >> let me ask you this. if you get spending cut ideas, are you going to agree to more tax increases? >> i think that's the negotiation that needs to happen. >> you want to go for more tax increases after the tax increases that went through on the fiscal cliff? >> i think closing loopholes, i think there has to be revenue enhancement and closing...
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Jan 18, 2013
01/13
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CNBC
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then the risks accumulate and the federal reserve has been printing money to finance the government deficit, buying a lot of government bonds and at some point that is going to come apart and it might come apart, might come apart in a fashion that is rather like august of 2007 where things seem to be going smoothly and then all of a sudden it all falls apart and the question is do we have adequate contingency plans in place should that happen? >> right. >> i fear we do not. >> before we let you go, when these transcripts come out do they evoke any memories for you good or bad about these meetings? >> oh, well they evoke lots of memories. i haven't seen the transcripts of course. i look forward to reviewing it because that was my last full year in office. it was a wonderful experience to be there. i learned an awful lot. and certainly one of the things i reflect on is the various points that we missed that i missed and my colleagues missed. >> william poole, former st. louis fed president, thank you so much for your time. steve, thanks to you for sticking around. >> my pleasure. >> meantime
then the risks accumulate and the federal reserve has been printing money to finance the government deficit, buying a lot of government bonds and at some point that is going to come apart and it might come apart, might come apart in a fashion that is rather like august of 2007 where things seem to be going smoothly and then all of a sudden it all falls apart and the question is do we have adequate contingency plans in place should that happen? >> right. >> i fear we do not. >>...
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Jan 15, 2013
01/13
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KTVU
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in november he said he had a deficit of $2 billion. he stands by that number but says -- >> it is roughly in balance. >> the difference in numbers is small and that the government's plan shows discipline. >> he should be commended for the plan. >> paying down debt and strengthsenning education are the right -- strengthening education are the right choices for california. >> reporter: he says another area of agreement is how quickly the governor's budget's numbers could fly. >> the biggest risk could come next month and that is from washington, d.c. in what the government chooses to do or not to do. >> reporter: if washington fails to act on the debt ceiling the national economy could -- [no audio] >> reporter: because of the potential risks to our state budget that is one reason they say they want to create that $1 billion reserve and where the budget stands, that will be better known in may when we will know if the surplus has grown. ken pritchett, ktvu channel 2 news. >>> 49er fans are looking forward to a huge game this weekend. if
in november he said he had a deficit of $2 billion. he stands by that number but says -- >> it is roughly in balance. >> the difference in numbers is small and that the government's plan shows discipline. >> he should be commended for the plan. >> paying down debt and strengthsenning education are the right -- strengthening education are the right choices for california. >> reporter: he says another area of agreement is how quickly the governor's budget's numbers...
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Jan 13, 2013
01/13
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KGO
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>> the biggest deficit the country has is a leadership deficit and the truth is the wings of both parties don't represent america. we have a republic not representative to the public. that's one of the reasons i'm one of the national co-founders of no labels to get that over rhetoric. we do need more leadership over the president and have a plan and push forward with regard to a grand bargain strategy because we desperately need one. we need one in 2013. we may not have until 2015. i'm confident we don't have till 2017. >> coming off the fiscal cliff negotiations and the whole experience with that, is that realistic at all in 2013? >> i think it is realistic if you do three things, one, the president has to demonstrate much more leadership. he's the only one elected by the people. he's the chief executive officer. he's got the bully pulpit. secondly, we need to engage the american people with the facts, the truth, with the tough choices in a way forward. i've done it all over the country, all 50 states. they're way ahead of the politicians. they can handle the truth and willing to accept
>> the biggest deficit the country has is a leadership deficit and the truth is the wings of both parties don't represent america. we have a republic not representative to the public. that's one of the reasons i'm one of the national co-founders of no labels to get that over rhetoric. we do need more leadership over the president and have a plan and push forward with regard to a grand bargain strategy because we desperately need one. we need one in 2013. we may not have until 2015. i'm...
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Jan 14, 2013
01/13
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CNBC
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plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro.
plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies....
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Jan 15, 2013
01/13
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CNBC
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it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit rating. >> the metaphors, jim, whether it's a family not paying the credit card bills, the president saying it's like dining and dashing at a restaurant, the only thing is we've got two weeks of respite and then we're off to the races again. >> after the civil war, there was tremendous partisanship in this country. a tumultuous time. the level of bipartisanship. there's such hatred that you can't get in a room. it never seems like obama gets in the room. biden got in the room beforehand. but look, everybody hates each other down there. it's exactly the opposite of what you would expect from a respected nation. it makes us look mickey mouse. i don't blame fitch. look, we have to pay bills, the constitution says it, but everybody doesn't seem to care much about the
it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit rating. >> the metaphors, jim, whether it's a family not paying the credit card bills, the president saying it's like dining and dashing at a restaurant, the only thing is we've got two weeks of respite...
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Jan 17, 2013
01/13
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MSNBC
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cutting the deficit. and oh, yeah, lowering unemployment. make no mistake about it. it's ambitious. but the president is entering his second term with a job approval among the highest since the early months of his presidency. his favorability rating has jumped nine point ins the last three months. at the very same time, the other side is fractured. destroying themselves. they're even threatening impeachment over the issue. we want all tools available to use including impeachment. >> could that build up to make a case for possible impeachment. >> all options should be on the table, undoubtly. >> and if that weren't enough, they're back. that's right, the birther brigade is stronger than ever. 64% of americans think president obama is hiding important information about his early life. 64%. no wonder the gop is going off the deep end. and no wonder the president is looking better than ever joining me now, jonathan kapart. thanks for coming on the show tonight. >> 64% is questioned about the president's early life. how do you explain that? well, look. 64% questioning the president's ear
cutting the deficit. and oh, yeah, lowering unemployment. make no mistake about it. it's ambitious. but the president is entering his second term with a job approval among the highest since the early months of his presidency. his favorability rating has jumped nine point ins the last three months. at the very same time, the other side is fractured. destroying themselves. they're even threatening impeachment over the issue. we want all tools available to use including impeachment. >> could...
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Jan 21, 2013
01/13
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CNBC
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i mean, america still has got to deal with its deficit. okay. we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in the private sector, which needs to be fluffed off. there's a deraef raejing that you've been seeing right across the western world is still going to go on, i think, for the best part of this decade. >> and we heard leading up to this election that rarely has a u.s. president been elected with such high levels of unemployment. what was different this time? >> oh, i think it had something to do with the candidate he was facing not being able to energize the public. but i also think, look, reflatio
i mean, america still has got to deal with its deficit. okay. we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there...